Hertz’s embrace of Teslas isn’t going so well

• Hertz is slowing down plans to include more electric cars in its fleet. 
• The firm said EVs have higher repair costs and have depreciated significantly. 
• Hertz said it would buy 100,000 Teslas in 2021. 

Embracing electric cars is proving much more complicated than Hertz anticipated.

The car-rental giant is hitting the brakes on a wide-ranging plan to integrate more electric vehicles into its fleet as it runs into challenges like high repair costs and depreciation. Hertz isn’t giving up on EVs entirely, but it’s starting to take a more measured approach.